Carey Price: 31 million reasons not to announce his retirement

Carey Price: 31 million reasons not to announce his retirement

UPGRADE DAY

Carey Price spoke of a miracle. A return to play for number 31 therefore relies on divine intervention. We understand an athlete's desire to hold on to the smallest shred of hope, but there are also economic issues. 

Price, like Shea Weber, n will not formalize his retirement by signing the NHL documents. If he wrote his name at the bottom of a piece of paper, the 35-year-old keeper would give up a ton of money.

We explain quickly.

In 2022- 2023, Price will earn 7.75 million (1 million in bonus and 6.75 million as annual salary). But on the team's salary cap, Price has a footprint of 10.5 million (the annual average of his contract).

After this season, he will have three more years left on his 8-year, 84 million contract that he signed in July 2017. For the other three seasons, the goalkeeper will pocket 8.5 million (2023-2024), and 7.5 million for the other two campaigns (2024-2025, 2025-2026).

In total, Price will therefore be 31.25 million richer by the end of his contract when counts the current year and the next three.

Mathematically, Price's agent (Gerry Johansson) won't need a long speech to convince his athlete never to mention the word retirement officially.

It's the same story with Weber. And it was the same story in the past with Chris Pronger.

Implications for the CH too

In the event of a retirement for Price, the Canadiens would also feel the repercussions. Yes, Price's salary would disappear from the accounting books. Kent Hughes and Jeff Gorton would therefore have 10.5 million more to maneuver with their team.

It is not, however, that simple. There would be a penalty to pay to repay a sum of money that the CH has saved in recent seasons.

To dust off this file, you have to get out a calculator. And we will calculate based on an official retirement of Price from the next season (2023-2024).

At the end of the current year, Price will have earned 60.5 million in a space of five seasons. The CH will have paid him this salary, but on the team's payroll, the goalkeeper will have cost 52.5 million (10.5 million x 5).

The Habs therefore saved on his mass salary 8 million. This sum of money, the team should reimburse it. There would therefore be a penalty of 8 million to pay.

As the amount is lower than his average annual salary (10.5 million), the Canadian could repay this sum in full in a single season ( 2023-2024). The CH would therefore mortgage its payroll by 8 million for a retired player.